Pnas 112 (52) (2015)

Authors
Marc Fleurbaey
Princeton University
Mark Budolfson
Rutgers University - New Brunswick
Abstract
Integrated assessment models of climate and the economy provide estimates of the social cost of carbon and inform climate policy. We create a variant of the Regional Integrated model of Climate and the Economy (RICE)—a regionally disaggregated version of the Dynamic Integrated model of Climate and the Economy (DICE)—in which we introduce a more fine-grained representation of economic inequalities within the model’s regions. This allows us to model the common observation that climate change impacts are not evenly distributed within regions and that poorer people are more vulnerable than the rest of the population. Our results suggest that this is important to the social cost of carbon—as significant, potentially, for the optimal carbon price as the debate between Stern and Nordhaus on discounting.
Keywords climate change  RICE  inequality  damage distribution  social cost of carbon
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References found in this work BETA

The Idea of Justice.Amartya Kumar Sen - 2009 - Belknap Press of Harvard University Press.
The Idea of Justice: A Reply.Amartya Sen - 2011 - Social Philosophy Today 27:233-239.

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